Top Stories by Bryan J. Lima
It appears that Fannie Mae and Freddie Mac have decided to expand the type of
properties available for the refinancing through the Homeowner Affordability
and Stability Plan. This is great news for borrowers, especially current
owners of second homes and multiple family (one to four units) dwellings.
Originally, we heard that this program would only apply to owner-occupied
The following article goes into more detail of the new rules of the program
recently released by Fannie Mae and Freddie Mac to all participating lenders.
See below for related posts:
Homeowner Affordability and Stability Plan - Part II
Homeowner Affordability and Stability Plan
Should you refinance your current mortgage now? Read more
Click here for current mortgage rates.
I'm sure there are many people asking the question, "Is now the right time to
buy?". Nobody really knows for sure. However, there are some facts that you
can look at to help evaluate whether or not now is the right time to buy. For
one, mortgage rates are currently close to the lowest they've been in almost
50 years. In addition, home prices are low and probably close to the bottom.
There may be a little more ways to go, but I think we're close. With the
Spring homebuying season upon us, we may see an increase in sellers in the
market, which will increase inventory and possible p... (more)
Real Estate on Ulitzer
New Jersey's high cost of living makes it very difficult to purchase a home.
Bergen County, NJ is the highest among all markets in homeownership
affordability and also happens to be the most populous county in NJ.
The median home price in Bergen County is $481,250. According to a 2007
estimate by the US Census Bureau, the median income of a family is just shy
of $97,000. If you assume that not more than 28% of the household income
should be used for the mortgage payment, that would mean that it should not
be higher than $2,263 per month.
Based on today's m... (more)
FOR IMMEDIATE RELEASE:
Bryan J. Lima
Bryan J. Lima Earns NAR Short Sales and Foreclosure Certification Buyers and
Sellers Benefit from REALTOR® Expertise in Distressed Sales
April 2, 2010 (Wyckoff, NJ) — Bryan J. Lima with DeFino Realtors has earned
the nationally recognized Short Sales and Foreclosure Resource certification.
The National Association of REALTORS® offers the SFR certification to
REALTORS® who want to help both buyers and sellers navigate these
complicated transactions, as demand for ... (more)
July is upon us and the summer market is now in full swing. Interest rates
are at historic lows and it’s a great opportunity for first-time homebuyers
to enter the market. The First-Time Homebuyer Tax Credit has already ended,
but if you were under contract by April 30th of this year then you now have
until September 30th to close. This date was recently extended from the
original date of June 30th.
I would like to wish all of you a very safe and Happy 4th of July with your
family and friends.
If you or somebody you know is looking to move or sell their home, please
have ... (more)